Perdoceo Education (NASDAQ:PRDO) Rating Reiterated by Barrington Research

Perdoceo Education (NASDAQ:PRDO)‘s stock had its “outperform” rating reiterated by analysts at Barrington Research in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $30.00 price objective on the stock. Barrington Research’s price objective points to a potential upside of 31.41% from the stock’s current price.

Separately, StockNews.com downgraded Perdoceo Education from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 25th.

Perdoceo Education Trading Up 1.6 %

Perdoceo Education stock traded up $0.35 during midday trading on Wednesday, reaching $22.83. 48,485 shares of the stock traded hands, compared to its average volume of 484,869. The firm has a market cap of $1.50 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 0.74 and a beta of 1.02. The company has a 50-day simple moving average of $22.32 and a two-hundred day simple moving average of $20.41. Perdoceo Education has a 12-month low of $15.94 and a 12-month high of $26.40.

Perdoceo Education (NASDAQ:PRDO) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Perdoceo Education had a net margin of 20.57% and a return on equity of 16.42%. The firm had revenue of $166.74 million during the quarter, compared to analysts’ expectations of $160.91 million. During the same quarter in the previous year, the business posted $0.61 earnings per share. The business’s quarterly revenue was down 10.6% compared to the same quarter last year. Equities research analysts anticipate that Perdoceo Education will post 2.21 earnings per share for the current year.

Insiders Place Their Bets

In other news, Chairman Gregory L. Jackson sold 26,664 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $22.70, for a total value of $605,272.80. Following the completion of the transaction, the chairman now owns 58,644 shares in the company, valued at approximately $1,331,218.80. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Perdoceo Education news, Chairman Gregory L. Jackson sold 26,664 shares of Perdoceo Education stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $22.70, for a total transaction of $605,272.80. Following the transaction, the chairman now owns 58,644 shares of the company’s stock, valued at $1,331,218.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director William Dean Hansen sold 13,185 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $23.01, for a total value of $303,386.85. Following the completion of the sale, the director now directly owns 39,016 shares of the company’s stock, valued at $897,758.16. The disclosure for this sale can be found here. 1.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Perdoceo Education

Hedge funds and other institutional investors have recently made changes to their positions in the stock. LSV Asset Management increased its holdings in shares of Perdoceo Education by 117.7% in the fourth quarter. LSV Asset Management now owns 1,213,839 shares of the company’s stock valued at $21,315,000 after purchasing an additional 656,280 shares during the period. Vanguard Group Inc. grew its position in Perdoceo Education by 0.8% during the first quarter. Vanguard Group Inc. now owns 5,896,257 shares of the company’s stock worth $103,538,000 after buying an additional 45,259 shares during the period. Manning & Napier Advisors LLC purchased a new position in Perdoceo Education in the 2nd quarter valued at approximately $2,570,000. SG Americas Securities LLC acquired a new position in Perdoceo Education during the second quarter worth $954,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Perdoceo Education in the 4th quarter worth about $922,000. Hedge funds and other institutional investors own 93.46% of the company’s stock.

About Perdoceo Education

Perdoceo Education Corporation provides postsecondary education through online, campus-based, and blended learning programs in the United States. It operates in two segments, Colorado Technical University and The American InterContinental University System. The Colorado Technical University segment offers academic programs, such as business and management, nursing, healthcare management, computer science, engineering, information systems and technology, project management, cybersecurity, and criminal justice.